ias 41

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August 9, 2017 at 3:05 pm #401169
adarsh1997
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Hi Mike!

IAS 41 says that after produce has been harvested, IAS 41 ceases to apply. It becomes inventory

But if for example, an animal has given birth to another animal, is the new born animal IAS 41 or IAS 2?
August 9, 2017 at 3:32 pm #401174
MikeLittle
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The birth of a calf / kid / lamb/ piglet could hardly be termed “harvesting”

Animals / livestock remains within the ambit of IAS 41
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